Georgia Attorney General Chris Carr on Thursday announced he is leading a coalition of 10 attorneys general in opposition to a new rule requiring publicly traded companies to create annual climate change reports.
Carr leads a coalition that includes attorneys general serving Georgia, West Virginia, Alabama, Alaska, New Hampshire, Oklahoma, South Carolina, Wyoming and Virginia in a petition for the 11th U.S. Circuit Court of Appeals to review whether the newly-enacted rule should remain.
That rule was adopted by the United States Securities and Exchange Commission (SEC) on March 6, and will mandate publicly traded companies issue annual reports about their alleged contribution toward climate change. Larger companies would also need to report their direct emissions.
All publicly listed companies would be required to report potential climate change risks to investors.
“President Biden is using the SEC to impose his climate agenda on every sector of our economy,” Carr declared in a statement. “This unlawful rule will burden businesses with unnecessary requirements, and we’re pushing back on behalf of our fellow Georgians.”
Originally proposed in 2022, the rule is part of President Joe Biden’s efforts to “leverage federal agency rulemaking to address climate change threats,” according to Reuters.
In their petition for review, Carr and the other attorneys general argue the SEC climate change rule exceeds the agency’s authority, is “arbitrary and capricious” by nature, amounts to an abuse of the agency’s power, and does not comport with existing federal law.
Just one day after Carr announced the action, the rule was paused by the 5th U.S. Court of Appeals following a lawsuit launched by two energy companies who similarly argued the SEC rule arbitrarily sought to punish certain companies or industries. The U.S. Chamber of Commerce also filed a lawsuit against the SEC to halt implementation of the new rule.
The SEC rule follows a new policy created by the Biden administration’s Office of Management and Budget (OMB) in 2023 which requires regulators to consider inequality and climate change when analyzing regulations.
While the Biden administration remains committed to addressing climate change, a recent poll suggests those most in favor of radical green plans are graduates of controversial Ivy League institutions.
Polling of Americans considered by the Community to Unleash Prosperity as “elite” found that 77 percent were in favor of rationing energy, gas and meat to help the climate. When reducing the population to Ivy League graduates, the pollsters found 90 percent supported such rationing.
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Tom Pappert is the lead reporter for The Tennessee Star, and also reports for The Georgia Star News, The Virginia Star, and The Arizona Sun Times. Follow Tom on X/Twitter. Email tips to [email protected].
Photo “Atty Gen Chris Carr” by Georgia Atty Gen Office.
